DasCoin Review: The Next Big Cryptocurrency?
When Bitcoin launched in 2009, nobody had any idea what kind of an impact the first cryptocurrency would have on the world. A decentralized payment method was born, without the need for any control or regulations by governments or corporations. In 2012, the Bitcoin concept really started to take off. Bitcoin has gone from pennies per coin to a whopping $1200. WHow well can DasCoin fare in this crowded cryptocurrency space?
It didn’t take long before other cryptocurrencies starting showing up. Some of the more popular cryptocurrencies are Ethereum and Dash. Ethereum isn’t your typical cryptocurrency, as it offers a distributed computing platform for smart scripting functionality, which allows for the use of applications inside the Ethereum blockchain. It didn’t take long before the prices of Ether (the value of Ethereum) spiked from $0.05 to above $20 dollars. In short, a cryptocurrency with a different approach resulted in a major success, with many extremely happy investors and traders as a result.
DasCoin has set high expectations. The makers of this new digital currency claim it will trigger a major turning point in the Fintech industry. Let’s take a look at why this new cryptocurrency may be the next big thing.
What exactly is DasCoin?
DasCoin is a new cryptocurrency, like Bitcoin and Ethereum, which launched in January 2017. It has a unique concept because it is both centralized and decentralized. This way, DasCoin has the benefits of both systems and because they work in unison, there are no drawbacks.
DasCoins are generated by exchanging resources that are necessary for the operation and growth of the network. In short, new DasCoins are created when there is demand and room for growth. In total, only 8.6 billion DasCoins will ever be distributed by the end of 2029. Scalability is one of the major elements of DasCoin.
DasCoin – just like any other cryptocurrency – is utilizing a blockchain ledger database. The only difference is that it uses a permissioned blockchain and not a permissionless one. This network isn’t only safe and secure, but it’s surprisingly fast as well. Where Bitcoin transactions can take up to 40 minutes before they’re verified, it only takes a few seconds on the DasCoin network – which is also being referred to as DasNet.
The DasCoin Ecosystem and Its Benefits
DasCoin is actually an acronym for Digital Asset System Conversion Instrument and has much bigger plans than ‘just’ being another digital coin.
First of all and as I’ve mentioned above, transactions are insanely fast. The network promises it should take no longer than six seconds before a transaction is not only sent, but verified as well. With a block time of only six seconds, DasCoin becomes very applicable for day to day and instant transactions.
If there’s one major disadvantage of cryptocurrency, it’s that it isn’t being widely used amongst the general public and more importantly, among merchants both offline and online. Even though bitcoin has spiked in popularity, the relatively low amount of 250,000 merchants, which accept Bitcoin payments, isn’t exactly promising. That’s where DasPay comes in, a mobile payments solution for consumers. The platform works very similarly to that of Apple Pay and uses NFC technology on your smart device to authorize payments from a MasterCard, Visa, JCB or China UnionPay card. It combines the widespread use of credit cards with the ease and flexibility of a cryptocurrency.
Another huge part of the ecosystem is the exchange. DasCoin uses their own global ECN, which aims to disrupt the traditional market of Foreign Exchange. How could you possible take on something as large as Forex? Pretty simple: the DasCoin global network of exchanges (which is being aimed at institutional traders) offers a speed benefit of 20% over any competing major exchange on the planet thanks to DasCoin’s proprietary trading technology. The currency DasCoin itself will also be traded in the extremely popular retail trading engine, MetaTrader4 (MT4) for widespread use and recognition.
Similar to Ethereum, DasCoin offers support for smart contracts which enhances the versatility of the cryptocurrency as a service. Their approach is slightly different however as the ecosystem is built on a know-your-client (KYC) basis. That means that no third parties are needed in order to make use of DasCoin smart contracts, offering a blockchain as a service (BaaS) with the highest amount of security.
Last but not least, WebWallet is another important element in this exciting’s coin ecosystem which further enhances it's value. WebWallet is an online service to provide users with a simple method to gain access to their DasCoin currency and the underlying Blockchain. The service is using the most powerful encryption on the market today – AES 256 – for a secure and safe place to store and manage DasCoin. NetLeaders, a company based in Singapore that is also part of the DasCoin ecosystem, handles the sales and marketing of software licenses need to take part in the network.
The people behind DasCoin
The sheer size and extent of the DasCoin ecosystem certainly is impressive, but it’s reassuring to hear that the people behind it are also veterans in the industry with entrepreneurial, strategic and executive experience. The CEO of DasCoin, Michael Mathias, is a FinTech specialist with 23-year experience. NetLeaders is run by senior manager John Pretto, while Wall Street banker George Sarcevich is responsible for WebWallet. Terry O’Hearn is the executive Chairman of the DasFinancial program while Blair Baker operates DasPayments. Although these people aren’t celebrities, they all bring an incredible amount of experience and drive to the project.
In short, DasCoin has a ton of potential benefits when compared to other cryptocurrencies and its ventures into the financial world and a user-friendly consumer payment market are innovative and unprecedented to say the least.JOIN NOW